The price of bitcoin has gained a lot since last week. Right now the average price of a bitcoin is trading around $800. Bitcoin is being traded right now because bitcoin exchanges are always open. Normal currency exchanges are closed in the weekend.
Today something interesting happend on one of the exchanges. There was a massive sale by one person of 195k bitcoins. The person who did this transaction made a total of $161 million. The Washington Post thinks the transaction was probably done by Bitstamp to reshuffle some of its accounts it holds for people. Like a bank transfering money from one vault to another.
Blockchain.info: 195k bitcoin transaction
A transaction like this is very rare because there are only 18 bitcoin accounts in the world that have more than 100k coins in it. The table below is coming from a Paper done by two people from The Weizzman Institute Of Science in Israel.
Biggest bitcoin accounts
The transaction was so big that the average transaction volume in bitcoins surpassed the transaction volume of an average day on paypal.
After hitting a high of $900 on sunday night bitcoin has now fallen to a price of $450. A 50% drop from the top so far. Some people have been writing that bitcoin can go as far as $10,000 or even $1 million.
Below is a chart of the last three days where you can clearly see the crash to $450. (Chart: clarkmoody)